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MATH 1070 - For the next 20 years, we are going to make monthly deposits into an account

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Subject: Finance
Due on: 11/14/2017
Posted On: 11/14/2017 06:32 AM

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For the next 20 years, we are going to make monthly deposits into an account with an annual interest of 3.3% compounded monthly. After 20 years, we want to be able to make a monthly payment of $800 from this account for the next 15 years. How much should our monthly deposit be for the first 20 years in order to be able to make these payments for the following 15 years?

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MATH 1070 - For the next 20 years, we are going to make monthly deposits into an account

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Posted On: 11/14/2017 06:33 AM
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